Economy & Policy

Americans Rely Increasingly On Credit Cards and Home Equity

The US has a multi-trillion-dollar hangover and the debt market is its remedy of choice. The New York Federal Reserve on Tuesday revealed US household debt is at its highest level since the famously inauspicious year of 2008. The figures…

(Photo Credit: Simon/Flickr)

Toshiba Considers Private Buyer As Shareholders Get Testy

In the history of sprawling, amorphous conglomerates, Japan’s Toshiba has had its finger in as many pies as anyone. It has sold everything from laptops to escalators to kettles to X-ray machines to nuclear power. Now, it’s considering selling something…

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Portuguese Homeowners Get Paid to Borrow

Here’s one way to turn a negative into a positive. Some mortgage borrowers in Portugal are getting paid interest on their own loans. It’s a dream scenario set up by Europe’s protracted economic pain, where negative interest rates have turned…

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U.S. Admin Preps $3 Trillion Economic Package

Last month Congress passed the American Rescue Plan — a $1.9 billion rescue package designed to get the U.S. through the last leg of the pandemic. Now, eyes are on the future. This week the Biden administration is reportedly drawing-up…

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IRS Research Suggests Top U.S. Earners Are Short-Changing Uncle Sam

There’s walking-around money, and then there’s yachting-around money. And, according to the IRS, folks with the latter have found creative ways to hang onto as much of it as possible. Yesterday the IRS released a working paper claiming the highest-income…

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Greece Completes A Comeback

Yesterday all eyes were on Jerome Powell and the so-called dot plot, which showed most Fed board members expect to keep rates near zero through 2023. Greece had its own headline-worthy bond news. Greece launched a successful 30-year bond sale…

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Small Business Helps Power Economic Rebirth

Goldman Sachs

Entrepreneurial Americans have been busy during the pandemic. According to the Census Bureau, more than 4.4 million new businesses have been created in the U.S. since last March. The Small Business Story It’s not unusual for business starts to increase…

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CVS, Walgreens Mine Big Data from Vaccine Recipients

Walgreens

When you get your Covid vaccine, you might rightly call it a lifesaver. Your pharmacy might see it as something else: a marketing opportunity. Free Shots, Free Goodie Bags Much has been said of the pharmacy juggernauts including CVS, Walgreens,…

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Investors Rocket Sweden’s Klarna to $31 Billion Valuation

Is your bank charging you for those European Central Bank negative interest rates? Looking for a new place to stash some cash? Well, fintech behemoth and upstart bank Klarna raised $1 billion at a $31 billion valuation, making it the…

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Take Your Money and Run, says German Banks

It’s no secret that savers have earned paltry interest rates on bank deposits lately. But the situation in Germany will have you feeling grateful for your 0.1%. Since the beginning of the year two of Germany’s largest banks — Deutsche…

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Yellen OKs Global Tax on Big Tech

After years of kicking and screaming, it’s Yellen that appears poised to solve the global tax conundrum. Treasury Secretary Jannet Yellen has told fellow G20 finance ministers the U.S. will drop a contentious “safe harbor” provision that would have allowed…

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Extra Credit: The Shifting World of Private Credit Markets

Tale of the Tape: Warren Buffett and Cathie Wood

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